Yutong Technology Acquires 60% Stake in Hungarian Packaging Firm Gelbert Eco Print

Yutong Technology announced on February 25, 2026, that its wholly-owned subsidiary, Hong Kong Yuto Printing Co., Ltd., will acquire a 60% stake in Hungary's Gelbert Eco Print for €6.5437 million (about RMB 53.482 million). Upon closing, Gelbert becomes a controlling subsidiary included in Yutong's consolidated financials.

Established in 2003 in Dunakeszi, Hungary, Gelbert specializes in printing and packaging services with a mature European market presence, established production base, and quality customer resources. In 2024, it recorded revenue of RMB 63.1314 million and EBITDA of RMB 13.9387 million. The deal values it at roughly 6.4 times 2024 audited EBITDA.

The structure includes a €5.7258 million payment at closing, with €818,000 held back based on 2026-2027 performance targets matching or exceeding reference revenue and 85% of EBITDA. Gelbert's founder retains 40% equity, commits to no competition for 10 years, and continues involvement.

Yutong views this as a strategic bridgehead in Europe to boost localized services for global clients and expand customer bases. Funds come from internal resources, potentially impacting cash flow amid market and policy risks.

This follows Yutong's February 10 announcement to buy 51% of Huayan Technology for RMB 448.8 million, targeting precision components for consumer electronics with clients like Google, Samsung, and META. Yutong reported Q1-Q3 2025 revenue of RMB 12.601 billion (up 2.80% YoY) and net profit of RMB 1.181 billion (up 6.00% YoY).